The MEA offshore pipeline market is expected to grow from US$ 1,399.63 million in 2019 to US$ 1,680.77 million by 2027; it is estimated to grow at a CAGR of 2.5 % from 2020 to 2027.
The Saudi Arabia, UAE, and South Africa are major economies in MEA. Finding of new oil and gas reserves across MEA region is expected to escalate the MEA offshore pipeline market. The new oil & gas reserves findings have been witnessing exponential growth across MEA region. Some of the recent finding across MEA region include the discovery of two oil & gas fields by Saudi Aramco in the northern parts of Saudi Arabia in August 2020. In September 2020, Equinor announced the discovery of new oil & gas fields at the Swisher prospect. Furthermore, in October 2020, Total and its partners announced to evaluate several development options for commercializing a new gas and condensate discovery in South Africa. Such discoveries of new offshore oil & gas reserves are expected to boost the construction of new plants and requirements for new offshore pipelines for cross-border transmission, thereby boosting the MEA offshore pipeline market. Other factors such as improvements and advancements in flexible pipe technology are also expected to increase the demand of offshore pipelines, which will drive the MEA offshore pipeline market. Furthermore, in case of COVID-19, MEA is highly affected specially the Saudi Arabia and Iran. The COVID-19 pandemic has negatively affected the overall oil & gas industry owing to considerable disruption in the industry supply chain activities coupled with the several countries across MEA region sealing off their international trade in wake of the pandemic. The MEA region especially the GCC countries witnessed a notable decline in their oil & gas sector owing to sharp decline in demand of oil from major end-user countries across Asia, Europe and North American regions as a result, the countries registered a lowered volume of oil production as well as construction of oil & gas related projects and subsequently the demand for offshore pipelines. Countries such as Saudi Arabia, UAE, Qatar and selected other members of OPEC countries also observed similar trends during the early months of the pandemic outbreak. The coronavirus outbreak's impact is anticipated to be quite severe in the year 2020 and likely in 2021. Hence, the ongoing COVID-19 crisis and critical situation in the countries like the Saudi Arabia and Iran will impact the offshore pipeline market growth of the MEA region negatively for the next few quarters.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA offshore pipeline market. The MEA offshore pipeline market is expected to grow at a good CAGR during the forecast period.
MEA Offshore Pipeline Market Segmentation
MEA Offshore Pipeline Market – By Diameter
- More than 24 inches
- Less than 24 inches
MEA Offshore Pipeline Market – By Line Type
- Export Line
- Transport Line
- Others
MEA Offshore Pipeline Market – By Product
- Oil
- Gas
- Refined Products
MEA Offshore Pipeline Market, by Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
MEA Offshore Pipeline Market - Companies Mentioned
- Bechtel Corporation
- Fugro
- John Wood Group PLC
- Larsen & Toubro Limited
- McDermott International, Inc.
- Petrofac Limited
- Saipem S.p.A
- Sapura Energy Berhad
- Subsea 7 S.A.
- TechnipFMC plc
Middle East and Africa Offshore Pipeline Report Scope
Report Attribute | Details |
---|---|
Market size in 2019 | US$ 1,399.63 Million |
Market Size by 2027 | US$ 1,680.77 Million |
Global CAGR (2020 - 2027) | 2.5 % |
Historical Data | 2017-2018 |
Forecast period | 2020-2027 |
Segments Covered |
By Diameter
|
Regions and Countries Covered | Middle East and Africa
|
Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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Some of the leading companies are:
- Bechtel Corporation
- Fugro
- John Wood Group PLC
- Larsen & Toubro Limited
- McDermott International, Inc.
- Petrofac Limited
- Saipem S.p.A
- Sapura Energy Berhad
- Subsea 7 S.A.
- TechnipFMC plc


